Vilma's cap number of $8.6325 million was cut to $3.8325 million, and Smith's number of $14.502 million was reduced to $8.502 million. The moves came before Tuesday's 3 p.m. deadline for the Saints to get under the salary cap, Holder reports.

Vilma has spent the past five years with New Orleans and is a three-time Pro Bowl selection. Smith has played his entire nine-year career with the Saints.

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